Check for new episodes: Every hour
Download Podcasts to: C:\Documents and Settings\<username>\My Documents\My Music\Podcasts\<Album>-<Artist>-<Title>
When new episodes are available:download the most recent 1
Delete episodes older than: Checked, 1 day
Only if they have been listened to: Checked
Only if rating is less than: Checked, 3 stars
Always retain the n most recent episodes: NOT-Checked.

A typical customized setting for these options is:

Check for new episodes: Every hour
Download Podcasts to: J:\Podcasts\<Album>\<Filename>
When new episodes are available:download the most recent 1
Delete episodes older than: Checked, 1 day
Only if they have been listened to: Checked
Only if rating is less than: Checked, 3 stars
Always retain the n most recent episodes: NOT-Checked.